SOLTEQ PLC'S FINANCIAL STATEMENTS BULLETIN 1.1.-31.12.2009
(Thomson Reuters ONE) - Solteq Plc Stock Exchange Bulletin 27.1.2010 at 9.00am- Turnover decreased by 6,0 % and totalled 28,6 million euros (30,4 millioneuros)- Operating result totalled 1.464 thousand euros (1.460 thousand) and remainedat the same level as in the financial year 2008.- Operating result is burdened by termination benefits in the amount of 440thousand euros- Operating result improved during the fourth quarter and totalled 786 thousandeuros (657 thousand euros)- In 2010 the turnover is believed to be at the same level as in 2009, but theoperating result instead is believed to improve and to end up between 6-8 percent.- Earnings per share was 0,08 euros (0,07 euros)- The Board of Directors proposes to the annual general meeting a dividend of0,06 euros per share, excluding own shares. KEY FIGURES Turnover by operation: % 1-12/09 1-12/08 Softwareservices 65 61 Licences 26 26 Hardware 9 13 Turnover by segment: Me 1-12/09 1-12/08 Change Trade 18,7 19,8 -1,1 Industry and services 9,9 10,6 -0,7 Total 28,6 30,4 -1,8 Operating result by segment: Me 1-12/09 1-12/08 Change Trade 0,1 1,6 -1,5 Industry and services 1,4 -0,1 +1,5 Total 1,5 1,5 0Managing Director Hannu Ahola:"After the uncertain first half of 2009 Solteq's profitability improvedsignificantly during the latter half of year 2009. Our operating resultpercentage was 8,1 in the third quarter and 9,6 in the fourth quarter which canbe considered good level in our branch of business.In addition to operative business operations we have taken several significantdevelopment measures that enable us to ensure favorable development ofprofitability also during forthcoming years. Our personnel structure and officenetwork were adjusted by means of co-operation negotiations to correspond ouractivities. The controlling and monitoring opportunities were improved by meansof implementation of a new ERP -system. During the last part of the year we alsocompletely reformed our organizational structure to correspond our strategicfocus areas. During 2010 there are no needs for such extensive reforms in theview but we are able to completely concentrate to serve our customers and makeprofitable business in such environment that is presumably more favorable inmarket conditions' point of view."BUSINESS ENVIRONMENT AND BUSINESS DEVELOPMENTSolteq is a strategic partner for trade and industry, whose core competency isIT solutions that are critical to business. Solteq combines its own productportfolio with the products from the leading software companies in the world todeliver individual business development and ERP solutions for its customers. Theinformation that is processed by means of these solutions is helping customersto manage their business even better than before and to improve theirprofitability.Solteq's operations were internally divided into five separate units during2009. The result was monitored through two business segments and in thisfinancial statements bulleting the figures are reported in accordance withabove-mentioned allocation. The segment Trade consists of Trade and Auto Tradeunits. Industry and Services segment consists of Industry and InformationManagement units. Application services is company's internal service unit. OOOSolteq Russia operates as an independent subsidiary which with the assistance ofthe parent company's organization serves customers that are operating in Russia.The figures of OOO Solteq Russia are reported according to the operating segmentof the end customer.Solteq Plc announced 16.9.2009 that company's organizational structure will bereformed to correspond to company's strategic focus areas ERP (enterpriseresource planning), EAM (enterprise asset management), DATA (data management andintegration) and STORE (retail solutions and technology). The reform enablesprerequisites at streamlining operations further and further improves theselling of company's product range to new areas. The organizational change hastaken effect on 1.1.2010. As of the first quarter of 2010, Solteq's figures willbe reported in accordance with new organizational structure.During fourth quarter of 2009 Solteq's turnover totalled 8 226 thousand euros inwhich contains decrease of 4,9 per cent compared to corresponding period in2008. The total turnover from financial year 2009 decreased six per cent andamounted to 28.550 thousand euros. The decrease of turnover was mainly due todecrease in hardware sales that was fainter compared to previous year. Insteadthe sales of services and licences have run according to plans.Solteq's operating result for the fourth quarter increased to 786 thousand eurosfrom 657 thousand euros that was the operating result in the correspondingperiod 2008. The operating profit for the whole year 2009 was 1.464 thousandeuros and that was in the same level as in 2008 (1.460 thousand euros).Company's operating profit percentage was 9,6 during the last quarter (7,6 in2008) and during the whole financial year 5,1 (4,8). Improved profitability,especially during the last half of the year, is mainly due to the efficiencymeasures that company has taken during the first quarter of 2009.Company's order backlog remained at good level during the last quarter of 2009.Current order backlog and strong sales project backlog build up confidence thatthe number of IT-investments will gradually increase during 2010 and also Solteqhas a good chance to improve its profitability level compared to last year. Thereforms that were executed during 2009 build up the wherewithal for theimprovement of profitability. In the beginning of 2009 Solteq conductedco-operation negotiations with its employees and the number of company's officeswas reduced. In addition during summer Solteq implemented new ERP-system thatimproves company's ability to monitor and develop its operations.TRADEBusiness environment - TradePrecaution in decision-making was still evident in the business environment ofTrade. Customers' interest towards solutions that relate to optimization ofactivities and efficiency improvement has remained stable anyway. Companies'managements are participating actively to the ERP development projects, becausecompanies strive to achieve cost gains and efficiency by means of those projectsduring the tighter economical times.The middle-sized companies which continued their investments were the mostactive actors among the clientele of trade. Especially the companies inwholesale trade as well as small chain stores are still systematically investingin the development of their operations.In particular the demand for warehouse management for specialty stores and ERPsolutions that relate to optimization of logistics chain and store systems hasbeen brisk. Improvements in efficiency, outmoding systems, implementation ofPCI-standards as well as changes in the value added tax are the drivers forinvestments in store systems.Business environment - Auto TradeIn the markets of IT solutions for car trade there were no signs of recovereddemand during the review period. The weak demand situation is consequence of thedownturn of market conditions in car trade. During January - Decemberapproximately total 90 000 new cars were registered which is 35 per cent lessthan during the same period in 2008. Solteq anticipates that extensive IT systemrenewals will only start after the consumers' confidence improves and when thesales of new cars picks up clearly compared to the current level.Business development - TradeDuring the review period the business operations of Solteq's Trade unit havedeveloped according to expectations. During the review period Solteq has furtherfocused on developing the quality of its activities and production of servicesas well as developing the certified competence. This has had a positive effecton demand and profitability. Domesticality combined with global products is anadvantage in the markets too.During the review period the focus of demand was in ERP-systems for middle-sizedwholesale stores and chain stores. Like in the beginning of year 2009 theinterest towards optimization solutions also remained brisk.Of the individual projects, the significant one was among others the systemrenewal for Tuko Logistics that continued according to plans. A new MicrosoftNAV -based ERP-project was started with Pentik that was one of the new customersamong the ERP solutions.Business development - Auto TradeThe reduction of car dealers' business operations was seen directly in thedemand for services of Solteq's Auto Trade unit. During the review period theturnover and result of Auto Trade unit were weaker level compared tocorresponding period in 2008. The demand for services concentrated on thedevelopment of customers' existing systems and solutions that support aftersales.During the low season Solteq has focused on the development of its own productrange in order to be even more competitive when the investments start again.INDUSTRYBusiness environment - IndustryPrecaution was a distinctive feature for the business environment of Industryunit during the last quarter of 2009. Both middle- and especially large-sizedcompanies considered their investments extremely carefully and not many newinvestment decisions have been made. Solteq sees that it is possible that thebottom has been seen relating to the precaution.Under a tight cost pressure an increasing number of customers are seeking moreefficiency to their activities by means of various IT solutions. The companieswhich have not recently involved with large scale temporarily dismissals orlay-offs of employees are the furthest with new investment decisions. During thereview period the customers of Industry unit sought additional efficiency totheir operations especially by means of maintenance IT solutions, whose demandremained at relatively good level.During the review period the demand for ERP solutions remained still slight.Customers' interest focused especially on precision solutions relating toefficiency improvement and better utilization of existing systems.Business environment - Information ManagementSolteq's Information Management business unit offers harmonization andmanagement of master data to its customers. The objective for harmonization isto improve the quality of data that is recorded in the IT systems. Customerenables information based leading in an integrated system by means of masterdata management.Among Solteq's clientele the interest towards information management solutionswas clearly more active than during the first half of the year 2009. When theown economic outlooks of companies began to improve little by little and theirpropensity to invest was increased during the third quarter, the companies havenow started again information management related projects. Companies seeksolutions to accurately specified unique needs and implement the best practicesby means of those projects.The customers of Information Management unit consist mainly of industrialcompanies. Solteq foresees that the public sector customers are growing customergroup in the future. Solteq believes that companies and public organizationswill continue their investments in information management, because evident costsavings with a short payback period are achieved by means of harmonization.Business development - IndustryDuring the review period customers' precaution was seen in the sales of ERPsolutions where the budgeted objectives were not achieved. Instead the demandfor maintenance IT solutions remained at good level compared to the marketsituation.Of the individual projects, the most significant was the SAP renewal ofHelsinki University which continued as planned. In addition a continuanceproject was started with Componenta Oyj where SAP-system will be implemented inComponenta group's three different locations in Finland.Maintenance solutions were delivered to Kokkola Power, Finnsementti, Marioff andJack-Steel. The most significant new maintenance related IT-system project wasthe delivery project to Kaukaa sawmill in Lappeenranta that was started withUPM-Kymmene Oyj. The increased sales efforts that have increased the totalnumber of concluded deals were seen among the solicitation of new customers inmaintenance systems.Solteq achieved a significant milestone relating to product development inOctober when company announced Solax-software that is developed for globalMicrosoft platform. Solax is used for management of fixed assets, materials,works and maintenance contracts and the software is designed especially for theneeds of production plants, companies in processing and engineering industry aswell as companies providing maintenance services. The welcome of this softwarehas been very positive among the clientele and the first pilots have goneaccording to plans.Business development - Information ManagementDuring the last quarter Information Management unit achieved its financialobjectives. Due to the weaker development during the beginning of the year theobjectives for the whole year 2009 were not achieved.During the review period a large harmonization project was started and it willcontinue until spring 2010. In addition this unit has made an agreement relatingto new outsourced master data maintenance service contract.For the purposes of product and service development Solteq carried outcomparative survey in co-operation with ten actors that included companies andorganizations from public administration. The objective was to find out the bestcurrent practices relating to master data management and to find out thedevelopment targets of the future.TURNOVER AND RESULTTurnover decreased by 6,0% compared to the previous year and totalled28.550 thousand euros (previous financial year 30.383 thousand euros).Turnover consists of several individual customerships. At the most, one clientcorresponds to a less than five percentages of the turnover.The operating result for the financial year was 1.464 thousand euros (1.460thousand euros), result before taxes was 1.329 thousand euros (1.136 thousandeuros) and profit for the financial year 935 thousand euros (867 thousandeuros).Operating result was burdened by termination benefits in the amount of 440thousand euros.BALANCE SHEET AND FINANCINGThe total assets amounted to 21.130 thousand euros (22.033 thousandeuros). Liquid assets totalled 258 thousand euros (695 thousand euros).Solteq Group's interest-bearing liabilities were 6.909 thousand euros (6.316thousand euros).Solteq Group's equity ratio was 47,2 percent (43,6%).INVESTMENTS, RESEARCH AND DEVELOPMENTGross investments during the financial year were 651 thousand euros (920thousand euros).Research and developmentSolteq's research and development costs consist mainly of personnel costs. Whendeveloping basic products, it is Solteq's strategy to cooperate with globalactors such as SAP, Wincor-Nixdorf and Microsoft and utilize their resources anddistribution channels. Own development efforts are focused on added valueproducts and developing tailored service concepts.During the financial year development costs capitalized under IFRStotalled 424 thousand euros (587 thousand euros). Most costs relating todevelopment are annually expensed due to their nature. Capitalised costs relateto one development project. Amortisation according to plan will begin when theproject has been commercially implemented.PERSONNELThe number of permanent employees at the end of the review period was 235 (268).Average number of personnel during the financial year was 240 (266). In the endof the financial year the number of personnel could be divided as follows: Trade120, Industry and Services 91 and Shared Functions 24.RELATED PARTY TRANSACTIONSSolteq's related parties include Solteq's board of directors, managing directorand the Group's management team. There have been no significant changes in thecompany's related party transactions since the financial statements 2008.SHARES, SHAREHOLDERS AND TREASURY SHARESSolteq Plc's equity on 31.12.2009 was 1.009.154,17 euros which was representedby 12.148.429 shares. The shares have no nominal value.In the end of the financial year the amount of treasury shares in Solteq Plc'spossession was 258.436 shares. The amount of treasury shares represented 2,13 %from the total amount of shares and votes in the end of the review period. Theequivalent value of acquired shares was 21.468 euros.Exchange and rateDuring the financial year, the exchange of Solteq's shares in theHelsinki Stock Exchange was 0,5 million shares (1,0 million shares) and0,7 million euros (1,5 million euros). Highest rate during the financial yearwas 1,39 euros and lowest rate 1,02 euros. Weighted average rate of the sharewas 1,25 euros and end rate 1,33 euros. The market value of the company's sharesin the end of the financial year totalled 16,2 million euros (14,1 millioneuros).OwnershipIn the end of the financial year, Solteq had a total of 1.985 shareholders(2.003 shareholders). Solteq's 10 largest shareholders owned 8.244 thousandshares i.e. they owned 67,9 per cent of the company's shares and votes. SolteqPlc's members of the board owned a total of 5.189 thousand shares which equals42,7 per cent of the company's shares and votes.ANNUAL GENERAL MEETINGSolteq Plc's annual general meeting on 27.3.2009 adopted the financialstatements for 2008 and the members of the board and the managing director weredischarged from liability for the financial year 2008.The annual general meeting decided in accordance with the board's proposal todistribute a dividend in the amount of 0,04 euros per share. The reconciliationdate for the dividend was 1.4.2009 and payment date 8.4.2009.The annual general meeting decided to authorize the board of directors to decideon acquiring the company's own shares so that the amount inthe possession of the company does not exceed 10 percent of the company's totalshares at that moment. The shares can be acquired in order to develop thecompany's capital structure, finance and execute acquisitions or similararrangements or used as part of the incentive scheme of the personnel or conveyotherwise or be invalidated. The shares can be acquired in other proportion thanthe shareholders' holdings. The shares are to be acquired through publictrading. The authorization is valid until the next annual general meeting.BOARD OF DIRECTORS AND AUDITORSSix members were elected to the board of directors. Seppo Aalto, AriHeini?eli-Pekka Jokiniva, Ali Saadetdin, Jukka Sonninen and MarkkuPietil?ill continue as members of the board. The board elected Ali Saadetdinto act as the chairman of the board.KPMG Oy Ab, Authorized Public Accountants, were re-elected as Solteq's auditors.Frans K?i, APA, acts as the lead partner.EVENTS AFTER THE REVIEW PERIODAfter the review period no events have occurred that require reporting.RISKS AND UNCERTAINITIESThe key uncertainties and risks in short term are related to the timing andpricing of the business deals that are the basis for the turnover, changes inthe level of costs and the company's ability to manage extensive contractagreements and deliveries.The key business risks and uncertainties of the company are monitored constantlyas a part of the board of directors' and management team's work. The company hasnot organized a separate internal audit organization or committee.PROSPECTSRelating to year 2010 Solteq believes that the annual turnover will be at thesame level as in 2009. The operating result instead is believed to improve andto end up between 6-8 per cent.PROPOSAL OF THE BOARD FOR DISTRIBUTION OF DIVIDENDThe distributable equity of the parent company Solteq Plc as at 31.12.2009 is8.444.686,56 euros.The Board of Directors proposes to the annual general meeting a dividend of0,06 euros per each outstanding share for the financial year 2009(2008: 0,04euros per share).Financial ReportingThis financial statements bulletin has been prepared in accordance with IAS 34.Solteq Group has applied the following new and revised standards starting from1.1.2009: IFRS 8 - Operating Segments and IAS 1 - Presentation of FinancialStatements. The change of IFRS 8 has an effect on the segment information innotes and the change of IAS 1 standard has an effect on the presentation ofprofit and loss statement. In all other respects the same accounting policies asin the annual financial statements 2008 have been applied.The financial result is reported through two operating segments. The Tradesegment includes both the Trade business unit and the Auto Trade business unit.The Industry and Information Management units belong to the Industry andServices segment. The Application Services unit forms a part of both operatingsegments. The segments have been defined based on the operations of company'scustomer groups. The most essential product and service types of Solteq group ofcompanies are software services, licenses and hardware sales. Implementation ofIFRS 8 has not changed the operating segments reported by Solteq Group becausethe segment information that was reported already earlier was based on themanagement's internal reporting and that was prepared in accordance with thesame recognition and measurement principles as external reporting.All forecasts and estimates presented in the interim report are based on thecurrent views of the management on the economic environment and outlook. Resultscan differ from those implied as a result of, among other factors, changes ineconomy, markets and competitive conditions, changes in the regulatoryenvironment and other government actions.The financial statements bulletin is unaudited. FINANCIAL INFORMATION GROUP PROFIT AND LOSS ACCOUNT (TEUR) 1.10.- 1.10.- 1.1.- 1.1.- 31.12.2009 31.12.2008 31.12.2009 31.12.2008 NET TURNOVER 8 226 8 653 28 550 30 383 Other operating income 14 3 94 44 Raw materials and services -1 937 -2 320 -7 524 -7 744 Staff expenses -4 261 -4 211 -14 868 -15 583 Depreciation -183 -178 -710 -718 Other operating expenses -1 073 -1 290 -4 078 -4 922 OPERATING RESULT 786 657 1 464 1 460 Financial income and expenses -39 -83 -135 -324 PROFIT BEFORE TAXES 747 573 1 329 1 136 Income taxes -213 -99 -394 -269 PROFIT FOR THE PERIOD 534 474 935 867 OTHER ITEMS OF TOTAL COMPREHENSIVE INCOME Cash flow hedging -9 0 -9 0 Other items of total comprehensive income after taxes -7 0 -7 0 TOTAL COMPREHENSIVE INCOME 527 474 928 867 Total profit for the period attributable to Owners of the parent 534 474 935 867 Total comprehensive income attributable to Owners of the parent 527 474 928 867 Earnings / share, e(undiluted) 0,04 0,04 0,08 0,07 Earnings / share, e(diluted) 0,04 0,04 0,08 0,07 Taxes corresponding to the result have been presented as taxes for the period. GROUP BALANCE SHEET (TEUR) 31.12.2009 31.12.2008 ASSETS NON-CURRENT ASSETS Intangible assets Intangible rights 2 755 2 417 Goodwill 8 286 8 286 Tangible assets 2 645 2 707 Investments Other shares and similar rights of ownership 93 93 Deferred tax assets 0 268 Total non-current assets 13 779 13 771 CURRENT ASSETS Short-term debtors 7 093 7 567 Cash in hand and at banks 258 695 Total current assets 7 351 8 262 TOTAL ASSETS 21 130 22 033 EQUITY AND LIABILITIES CAPITAL AND RESERVES ATTRIBUTABLE TO THE SHAREHOLDERS OF THE PARENT COMPANY Share capital 1 009 1 009 Company's own shares -337 -255 Share premium account 75 75 Account for cash flow hedging -7 0 Unrestricted equity fund 7 214 7 213 Retained earnings 1 084 693 Profit for the financial period 935 867 Total equity 9 973 9 602 LIABILITIES Non-current liabilities Deferred tax liabilities 125 0 Other non-current liabilities 4 337 3 663 Current liabilities 6 695 8 768 Total liabilities 11 157 12 431 TOTAL EQUITY AND LIABILITIES 21 130 22 033 FINANCIAL PERFORMANCE INDICATORS (IFRS) 2009 2008 2007 2006 2005 Net turnover MEUR 28,6 30,4 27,9 23,2 21,6 Change in net turnover -6,0 % 8,8 % 20,6 % 7,4 % -0,7 % Operating result MEUR 1,5 1,5 1,3 -0,5 1,2 % of turnover 5,1 % 4,8 % 4,7 % -2,1 % 5,7 % Result before taxes MEUR 1,3 1,1 1,1 -0,5 1,5 % of turnover 4,7 % 3,7 % 3,9 % -2,1 % 6,8 % Equity ratio, % 47,2 43,6 44,1 47,7 75,2 Gearing, % 66,7 % 58,5 % 69,0 % 15,8 % -7,9 % Gross investments in non-current assets MEUR 0,7 0,9 1,8 7,7 1,3 Return on equity, % 9,6 % 9,0 % 11,5 % 1,2 % 11,4 % Return on investment, % 9,1 % 9,0 % 8,7 % -2,4 % 13,3 % Personnel at end of period 235 268 259 234 187 Personnel average for period 240 266 252 240 193 KEY INDICATORS PER SHARE Earnings / share, e 0,08 0,07 0,09 0,01 0,11 Earnings / share, e(diluted) 0,08 0,07 0,09 0,01 0,11 Equity / share, e 0,84 0,80 0,81 0,81 1,00 QUARTERLY KEY INDICATORS (MEUR) 1Q/08 2Q/08 3Q/08 4Q/08 Net turnover 6,89 8,55 6,29 8,65 Operating result 0,05 0,37 0,38 0,66 Result before taxes -0,02 0,28 0,30 0,58 1Q/09 2Q/09 3Q/09 4Q/09 Net turnover 7,21 7,49 5,62 8,23 Operating result -0,19 0,41 0,46 0,78 Result before taxes -0,24 0,40 0,42 0,75 CASH FLOW STATEMENT (MEUR) 1-12/2009 1-12/2008 Cash flow from business operations 0,18 2,94 Cash flow from capital expenditure -0,65 -0,88 Cash flow from financing activities Dividend distribution -0,48 -0,73 Own shares -0,08 -0,26 Loan agreement 0,59 -0,72 Cash flow from financing activities 0,03 -1,71 Change in cash and cash equivalents -0,44 0,35 TOTAL INVESTMENTS (TEUR) 1-12/2009 1-12/2008 Continuing operations, group total 651 920 LIABILITIES (MEUR) 31.12.2009 31.12.2008 Company quorantee for credit limits 2,61 1,18 Perfomance bonds 0,05 0,05 Lease contracts, machinery & equipment 0,70 0,59 Lease liability, premises 2,21 2,48 Pledged shares 1,59 0,00 DISTRIBUTION OF HOLDINGS BY SECTOR DECEMBER 31, 2009 Number of Shares and votes holdings % Number Private companies 92 19,8 % 2 404 260 Financial an insurance institutions 7 0,7 % 83 586 Public-sector organizations 1 0,1 % 11 300 Households 1 874 79,4 % 9 639 922 Non-profit organizations 5 0,0 % 3 971 Foreigners 6 0,0 % 5 390 Total 1 985 100,0 % 12 148 429 Total of Nominee-registered 4 0,7 % 84 826 DISTRIBUTION BY NUMBER OS SHARES DECEMBER 31,2009 Number of Shares and votes Number of shares holdings % Number 1 - 100 348 0,2 % 27 910 101 - 1 000 1 103 4,4 % 536 461 1 001 - 10 000 456 11,6 % 1 410 455 10 001 - 100 000 67 15,0 % 1 826 562 100 001 - 1 000 000 8 15,1 % 1 829 356 1 000 000 - 3 53,7 % 6 517 685 Total 1 985 100,0 % 12 148 429 Total of nominee-registered 4 0,7 % 84 826 MAJOR SHAREHOLDERS DECEMBER 31, 2009 Shares and votes Number % 1. Saadetdin Ali 3 481 383 28,7 2. Aalto Seppo 1 662 206 13,7 3. Profiz Business Solution Oyj 1 374 096 11,3 4. TP-Yhti?y 513 380 4,2 5. Roininen Matti 345 000 2,8 6. Solteq Oyj 258 436 2,1 7. Hakam? Jorma 228 430 1,9 8. Saadetdin Katiye 156 600 1,3 9. Kiiveri Jouko 118 280 1,0 10. Halmet Jarmo 106 000 0,9 10 largest shareholders total 8 243 811 67,9 % Total of nominee-registered 84 826 0,7 % Others 3 819 792 31,4 % Total 12 148 429 100,0 % STATEMENT OF CHANGES IN GROUP EQUITY (TEUR) A=Share capital B=Share issue C=Company's own shares D=Share premium account E=Account for cash flow hedging F=Unrestricted equity fund F=Retained earnings H=Total A B C D E F G H EQUITY 1.1.2008 1 002 64 0 18 0 7 213 1 422 9 719 Total comprehensive income 867 867 Subscription issue 7 -64 57 0 Acquiring of own shares -255 -255 dividend distribution -728 -728 EQUITY 31.12.2008 1 009 0 -255 75 0 7 213 1 560 9 602 EQUITY 1.1.2009 1 009 0 -255 75 0 7 213 1 560 9 602 Total comprehensive income -7 935 928 Acquiring of own shares -82 -82 dividend distribution -475 -475 EQUITY 31.12.2009 1 009 0 -337 75 -7 7 213 2 020 9 973 CALCULATION OF FINANCIAL RATIOS Solvency ratio, in percentage equity x 100 ---------------------------------- balance sheet total - advances received Gearing interest bearing liabilities - cash, bank balances and securities X 100 ------------------------------------------- equity Return on Equity (ROE) in percentage profit or loss before taxation - taxes x 100 ---------------------------------------- equity Profit from invested equity in percentage profit or loss before taxation + interest expenses and other financing expenses x 100 ---------------------------------------- balance sheet total - non-interest bearing liabilities Earnings per share pre-tax result - taxes +/- minority interest ------------------------------------ diluted average share issue corrected number of shares Diluted earnings per share diluted profit before taxation - taxes +/- minority interest ----------------------------------------------- diluted average share issue corrected number of shares Equity per share equity ----------------------- number of sharesFinancial ReportingSolteq Plc's financial information bulletins in 2010 have been scheduled asfollows:- Interim report 1-3/2010 Thursday 22.4.2010- Interim report 1-6/2010 Wednesday 11.8.2010- Interim report 1-9/2010 Thursday 21.10.2010More investor information on Solteq's website at www.solteq.comAdditional information:Managing Director Hannu AholaTelephone +358 20 1444 211 or +358 40 8444 211E-mail hannu.ahola(at)solteq.comCFO Antti K?k?enTelephone +358 20 1444 393 or +358 40 8444 393E-mail antti.karkkainen(at)solteq.comDistribution:NASDAQ OMX HelsinkiKey Media[HUG#1377396] Solteq Financial Statements 2009: http://hugin.info/130643/R/1377396/338345.pdf
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